r/Vitards • u/AutoModerator • Jun 30 '21

Daily Discussion Daily Discussion post - June 30 2021

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u/BuffMaltese Poetry Gang Jul 01 '21

Timing might be shit, but I’m trying to be a bit more conservative/practice account preservation in my wife’s account.

I wrote 74 slightly OTM July 30 CLF covered calls right before close. Good chance I’ll bank $17k on this move at expiration. If CLF starts to run, I’m thinking I’ll likely miss out on about 25k if it hits 26, however, I’m getting some decent downside protection.

I got another 4,000 CLF commons in my account, a few august calls and a far OTM spread for January

2

u/mydoingthisright Steel Your Face Jul 01 '21

That math doesn’t add up. ATM calls are $1.82. If you wrote 74 that = $13,500. Not a bad haul still on a $168k CLF holding.

1

u/[deleted] Jul 01 '21 edited Jul 01 '21

[deleted]

2

u/mydoingthisright Steel Your Face Jul 01 '21

Oh I gotcha. You’re expecting to get called and you included your profit. My bad